Granite Investment Partners LLC Reduces Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Granite Investment Partners LLC trimmed its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX – Get Rating) by 6.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,837 shares of the company’s stock after selling 1,879 shares during the period. Granite Investment Partners LLC’s holdings in IDEXX Laboratories were worth $10,540,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of IDXX. Panagora Asset Management Inc. grew its position in shares of IDEXX Laboratories by 50.3% in the 1st quarter. Panagora Asset Management Inc. now owns 3,232 shares of the company’s stock valued at $1,768,000 after buying an additional 1,081 shares during the last quarter. Raymond James Trust N.A. grew its position in IDEXX Laboratories by 26.8% during the 1st quarter. Raymond James Trust N.A. now owns 1,624 shares of the company’s stock worth $888,000 after purchasing an additional 343 shares during the last quarter. Cetera Investment Advisers grew its position in IDEXX Laboratories by 77.1% during the 1st quarter. Cetera Investment Advisers now owns 3,675 shares of the company’s stock worth $2,010,000 after purchasing an additional 1,600 shares during the last quarter. Moors & Cabot Inc. grew its position in IDEXX Laboratories by 3.0% during the 1st quarter. Moors & Cabot Inc. now owns 1,757 shares of the company’s stock worth $961,000 after purchasing an additional 52 shares during the last quarter. Finally, Sequoia Financial Advisors LLC grew its position in IDEXX Laboratories by 15.6% during the 1st quarter. Sequoia Financial Advisors LLC now owns 992 shares of the company’s stock worth $543,000 after purchasing an additional 134 shares during the last quarter. 87.90% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at IDEXX Laboratories

In related news, Director Sophie V. Vandebroek sold 2,187 shares of the company’s stock in a transaction on Thursday, May 4th. The shares were sold at an average price of $469.02, for a total value of $1,025,746.74. Following the sale, the director now directly owns 872 shares of the company’s stock, valued at $408,985.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Michael Lane sold 1,000 shares of the company’s stock in a transaction dated Friday, May 5th. The shares were sold at an average price of $484.00, for a total transaction of $484,000.00. Following the completion of the transaction, the executive vice president now owns 4,022 shares in the company, valued at $1,946,648. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sophie V. Vandebroek sold 2,187 shares of the business’s stock in a transaction dated Thursday, May 4th. The shares were sold at an average price of $469.02, for a total transaction of $1,025,746.74. Following the transaction, the director now directly owns 872 shares of the company’s stock, valued at $408,985.44. The disclosure for this sale can be found here. Insiders have sold 13,187 shares of company stock valued at $6,402,047 over the last ninety days. Corporate insiders own 2.11% of the company’s stock.

Wall Street Analyst Weigh In

IDXX has been the topic of several research reports. StockNews.com initiated coverage on shares of IDEXX Laboratories in a research report on Thursday, May 18th. They set a “buy” rating on the stock. JPMorgan Chase & Co. lifted their price target on shares of IDEXX Laboratories from $525.00 to $550.00 and gave the stock an “overweight” rating in a report on Tuesday, February 7th. Barclays lifted their price target on shares of IDEXX Laboratories from $582.00 to $590.00 and gave the stock an “overweight” rating in a report on Wednesday, February 8th. Morgan Stanley lifted their price target on shares of IDEXX Laboratories from $543.00 to $590.00 and gave the stock an “overweight” rating in a report on Thursday, March 23rd. Finally, Atlantic Securities lifted their price target on shares of IDEXX Laboratories from $470.00 to $600.00 and gave the stock an “overweight” rating in a report on Tuesday, February 7th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $527.86.

IDEXX Laboratories Stock Up 2.1 %

Shares of NASDAQ IDXX traded up $9.76 during trading on Friday, reaching $467.82. 117,277 shares of the stock were exchanged, compared to its average volume of 448,878. The business’s 50-day moving average price is $483.00 and its 200 day moving average price is $461.49. IDEXX Laboratories, Inc. has a twelve month low of $317.06 and a twelve month high of $515.79. The company has a quick ratio of 0.71, a current ratio of 1.08 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $38.78 billion, a price-to-earnings ratio of 55.12, a price-to-earnings-growth ratio of 2.78 and a beta of 1.19.

IDEXX Laboratories Profile

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IDEXX Laboratories, Inc engages in the development, manufacture, and distribution of products and services for the animal veterinary, livestock and poultry, dairy, and water testing markets. It operates through the following segments: Companion Animal Group (CAG), Water Quality Products (Water), Livestock, Poultry, and Dairy (LPD), and Other.